Israel becomes major energy exporter after signing Egypt gas permit

[Gaon]

Israel became a major energy exporter for the first time on Monday after signing a permit to export natural gas to Egypt.



Energy Minister Yuval Steinitz called the permit a "historic landmark" for Israel. He said it's the most significant economic cooperation project between the neighboring countries since they signed a peace deal in 1979.



The European Union, seeking to reduce its dependence on Russian gas, has encouraged the formation of new delivery routes, including through the eastern Mediterranean. These routes could also curtail Iranian ambitions to use Syria as a gateway to the Mediterranean.



"The natural gas revolution turns us into an energy power and affords us not just huge income for the country but also a dramatic decrease in air pollution," Steinitz said. Israel is planning to wean itself off coal, thanks to the expected gas boon.



$15 Billion Deal

Aside from the economic benefits, the promise of gas appears to have helped Israel grow closer to Arab governments and other Mediterranean countries.



Israel signed a $15 billion deal last year to provide Egypt with 64 billion cubic meters of gas over a 10-year period that will help transform both into regional energy players.



In January, Egypt hosted its first ever regional gas forum. The Israeli energy minister attended alongside several regional delegations, the first such visit by an Israeli Cabinet member since 2011.



Although past economic agreements with Israel have been controversial in Egypt, where support for the Palestinians runs high, relations have been steadily warming.



Israel already delivers small quantities of gas to the Palestinians and to Jordan, with whom Delek and Noble signed their first export agreement in 2016.



The Leviathan reservoir was discovered in 2010 some 125 kilometers (75 miles) off the Israeli coast, and together with the discovery of the smaller Tamar field, ushered in a wave of optimism for Israel with regard to its energy needs.



The Zohr gas field — discovered off the coast of Egypt in 2015 — has been touted as the largest ever in the Mediterranean.

https://worldisraelnews.com/israel-becomes-major-energy-exporter-after-signing-egypt-gas-permit/">https://worldisraelnews.com/israel-beco ... as-permit/">https://worldisraelnews.com/israel-becomes-major-energy-exporter-after-signing-egypt-gas-permit/



It took Israel a mere four years to go from discovery to major export delivery.

[Anonymous]

Even tiny Israel is finding markets for it's natural gas..



We can't get one LNG export facility built.

[Anonymous]

Israel is smart, Canada is stupid.

[Anonymous]

Israel became a major energy exporter for the first time on Monday after signing a permit to export natural gas to Egypt.



Energy Minister Yuval Steinitz called the permit a "historic landmark" for Israel. He said it's the most significant economic cooperation project between the neighboring countries since they signed a peace deal in 1979.



The European Union, seeking to reduce its dependence on Russian gas, has encouraged the formation of new delivery routes, including through the eastern Mediterranean. These routes could also curtail Iranian ambitions to use Syria as a gateway to the Mediterranean.



"The natural gas revolution turns us into an energy power and affords us not just huge income for the country but also a dramatic decrease in air pollution," Steinitz said. Israel is planning to wean itself off coal, thanks to the expected gas boon.



$15 Billion Deal

Aside from the economic benefits, the promise of gas appears to have helped Israel grow closer to Arab governments and other Mediterranean countries.



Israel signed a $15 billion deal last year to provide Egypt with 64 billion cubic meters of gas over a 10-year period that will help transform both into regional energy players.



In January, Egypt hosted its first ever regional gas forum. The Israeli energy minister attended alongside several regional delegations, the first such visit by an Israeli Cabinet member since 2011.



Although past economic agreements with Israel have been controversial in Egypt, where support for the Palestinians runs high, relations have been steadily warming.



Israel already delivers small quantities of gas to the Palestinians and to Jordan, with whom Delek and Noble signed their first export agreement in 2016.



The Leviathan reservoir was discovered in 2010 some 125 kilometers (75 miles) off the Israeli coast, and together with the discovery of the smaller Tamar field, ushered in a wave of optimism for Israel with regard to its energy needs.



The Zohr gas field — discovered off the coast of Egypt in 2015 — has been touted as the largest ever in the Mediterranean.

https://worldisraelnews.com/israel-becomes-major-energy-exporter-after-signing-egypt-gas-permit/">https://worldisraelnews.com/israel-beco ... as-permit/">https://worldisraelnews.com/israel-becomes-major-energy-exporter-after-signing-egypt-gas-permit/



It took Israel a mere four years to go from discovery to major export delivery.

Fifteen billion dollar investment. I assume a lot of that revenue will build infrastructure and services for the people.



We don't want a middle class in Canada.

[Anonymous]

I did not think Israel had fields of natural gas. I did not think they had any resources.

[Anonymous]

Israel became a major energy exporter for the first time on Monday after signing a permit to export natural gas to Egypt.



Energy Minister Yuval Steinitz called the permit a "historic landmark" for Israel. He said it's the most significant economic cooperation project between the neighboring countries since they signed a peace deal in 1979.



The European Union, seeking to reduce its dependence on Russian gas, has encouraged the formation of new delivery routes, including through the eastern Mediterranean. These routes could also curtail Iranian ambitions to use Syria as a gateway to the Mediterranean.



"The natural gas revolution turns us into an energy power and affords us not just huge income for the country but also a dramatic decrease in air pollution," Steinitz said. Israel is planning to wean itself off coal, thanks to the expected gas boon.



$15 Billion Deal

Aside from the economic benefits, the promise of gas appears to have helped Israel grow closer to Arab governments and other Mediterranean countries.



Israel signed a $15 billion deal last year to provide Egypt with 64 billion cubic meters of gas over a 10-year period that will help transform both into regional energy players.



In January, Egypt hosted its first ever regional gas forum. The Israeli energy minister attended alongside several regional delegations, the first such visit by an Israeli Cabinet member since 2011.



Although past economic agreements with Israel have been controversial in Egypt, where support for the Palestinians runs high, relations have been steadily warming.



Israel already delivers small quantities of gas to the Palestinians and to Jordan, with whom Delek and Noble signed their first export agreement in 2016.



The Leviathan reservoir was discovered in 2010 some 125 kilometers (75 miles) off the Israeli coast, and together with the discovery of the smaller Tamar field, ushered in a wave of optimism for Israel with regard to its energy needs.



The Zohr gas field — discovered off the coast of Egypt in 2015 — has been touted as the largest ever in the Mediterranean.

https://worldisraelnews.com/israel-becomes-major-energy-exporter-after-signing-egypt-gas-permit/">https://worldisraelnews.com/israel-beco ... as-permit/">https://worldisraelnews.com/israel-becomes-major-energy-exporter-after-signing-egypt-gas-permit/



It took Israel a mere four years to go from discovery to major export delivery.

Canada has immense reserves of natural gas and tiny Israel is capturing market share we don't seem to want.